Jaipur-Ajmer Expressway – affordable option to invest in residential realty

Date : Aug 23, 2012

Jaipur strategic location near to Delhi and Gurgaon is the key driver of city’s real estate. The city is seeing emergence of Peripheral Business Districts (PBD) such as Jaipur-Ajmer expressway which is gaining popularity among buyers, end-users and investors in recent past.

The six-lane Jaipur Ajmer expressway is the fastest growing hub of Jaipur after Sikar Road and Agra Road. “The expressway is seeing growth of new residential and commercial projects in pipeline,” says Amit Rawat of Jaipur Properties. The property values have noted a 12-15 per cent escalation in past six months, however, the number of inquiries increased by up to 25 per cent during the same period. Coming of IT/ITeS industries in neighbourhood is the main reason for the appreciation in realty market. Opening up of companies such as Infosys, Wipro, Tech- Mahindra, Genpact etc have also contributed in the enhanced demand and henceforth value appreciation”.

According to another city-based realtor, Hritesh Sahoo of Balaji Constructions, “The upcoming Special Economic Zone (SEZ) projects by Mahindra World City and Infotech along with the expansion of local handicraft companies, also adds to its potential”. There has been a shift in demand in past couple of years and buyers and investors from across the northern region prefer new emerging PBD areas since they offer low cost of operation and have budget properties, he added.

Availability of well laid infrastructure and accessibility of Jaipur-Ajmer expressway has attracted many prominent developers of the NCR here such as Vatika Group, Omaxe Ltd, Amrapali Group etc. All these developers have launched luxury residential projects equipped with lifestyle features and specifications.

“Affordable plots are the most transacted housing category,” says Anil Kumar from Global Properties. Many developers are offering plots of various sizes within price bracket of Rs 5-20 lakh and are noting higher number of transactions than the apartments.

The expressway is strategically located near to posh locations of Jaipur such as Vaishali Nagar, Chitrakoot and Panchsheel and is well connected to the city centre making it a favourable living destination. Ongoing infrastructure projects such as construction of convention centre for national & international summits, five star hotels, multipurpose complexes and other entertainment hubs is also boosting property demand here.

The current capital value of apartments on Jaipur-Ajmer expressway varies from Rs 1,800 – 4,000 per sq ft. The area has immense potential to grow and with the completion of under-construction residential and commercial project the realty market will touch new heights